This solar energy stock is largely outperforming the broader market, but analysts have yet to climb on board -- three out of four maintain "hold" ratings on SCTY.

The below chart is of SolarCity Corp (NASDAQ:SCTY), which engages in the design, installation, and sale or lease of solar energy systems to residential and commercial customers, and government entities in the United States.

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Recommendation: Long

What I Am Looking At:

Largely outperforming the broader market, up more than 214% year-to-date.

Recent pullback to the rising 40-day moving average, which has been significant during the past year.

Coinciding with the 40-day moving average is the 200% year-to-date level, which could be supportive.

Pullback has retraced between 38.2% and 50% of the all-time low to the all-time high.

Enormous put open interest for the June/July series at the 35-strike could create a tailwind on an unwind situation.

Short interest continues to rise, up nearly 25% during the past two weeks and represents 14% of the float; bounce from here could spark short-covering.

Analysts have yet to climb on board as three out of four maintain "hold" ratings.

Annual sales growth for the past five years is 41%.

Long-term annual growth estimate (five years): 33%.

Strategy: Looking for the 40-day moving average and the $35 level to hold with the anticipation of a possible move back to the May highs.